Coinbase Raises $75 Million in Funding Round

Coinbase said it raised $75 million in the single largest venture-capital fundraising by a bitcoin-related startup. Michael Casey joins MoneyBeat. Photo: Getty.

This transcript has been automatically generated and may not be 100% accurate.

... been been been been been the corn services startup point eight this morning ... announced a seventy five million dollar round of fund raising ... now is that the Lord to Maddie Bitcoin businesses raised yet ... but ... there were some notable new names among the list of investor is ... my Casey joins us with the de tails Mr Casey hell are you I'm very well this is all I ... mean you are not home we first saw this trend at this news on our ears perked up seventy five million is big number ... our viewers also proposal was on this list ... yesterday to keep the latter is even more import yet a five million courses twice the size the warm and toasty out ... of any other previous ... EDV too funny not that anybody bitcoins prices so obviously ... a key initiative is momentum in this in this process but more portly ... the New York Stock Exchange one a this is us had a very loud bank ... when distant ... from the services company ... of DVD and in the Spanish bank ... some big names big group and a former CEO of Citigroup or come close to form a sea of Thomson Reuters ... these are all people with ... a lot of interest not only in ... the industry will but the actual ... infrastructure investing a wise CST has been securely important as of ... today what is there just are not necessarily just investing here in Coinbase ... face it seems that they probably want some strategic position ... when this technology becomes whatever is going to grow and E Lee's top of this for a long time he's been quite a threat to Wall Street think when a threat to the bank's ... no you're seeing ... the banks take an active interest in bitcoin ... that's the real reason the way is the way always works is history running we saw this with the infinite Titanic twenty trading that the banks with the first to do this but he realizes some point that they had to get in foal because around in the industry is is either threat no compromise by ... an email to see this opportunity to grow in this in such ... an cornices a couple people them because it's not Mueller radical ... idea at and I'm not good capitalists ... say yes it's it's a group of guys who have tried to build something is ... moving closer to a man in the sense of the Heather and coffee services to than the locks a unit this is the way for these guys put the toe in the water just to make shore that did did did tailwind when things ... that has got hammered this year a lot of stories about my ears trading oft does does this change the narrative or is this so ... it'll are held by ... the negative in the narrative because we focused on the prize as if the most important thing is that I and and also that the most important thing is the currency itself the idea that unit mom and pop might use it to buy the groceries ... a lot of fights in Silicon Valley in else when our realize that a far more important thing is the capacity on the line technology of a pick on the ball training led to ... the de centralized payments to decent allies the way that the society itself organizes call this time and and they really would like to ignore some of that the bullet aisle wild with this stuff is happening in the drive and focus on the development is technology which is what is this the tools ... that are in my case increased as the euro much ...